Wednesday, January 03, 2007

Slowly dipping back into the game

December was a really slow month for me. I made $14 for the month. I stopped trading on Dec. 21 and took the rest of the month off. I think I was mentally burnt out from trading. My mind was laced with worries and fear of not being able to make money from trading. During my break I was able to let go of my worries. I was in control again instead of being controlled by the markets.

I traded lightly today. There was one thought in my mind today. Do I remember how to trade? I felt rusty. I lacked focus and was a bit overwhelmed. This made me real cautious. I had a few nice entries but I took quick profits instead of letting the trades work. On a positive note, I am starting my year with a gain of $60.

About Me

I have been trading for 5 years. It took close to a year before I became profitable. I find that I am improving gradually each year.
My method of choice is scalping. My edge lies in tape reading NYSE stocks and staying on the side of the specialist. That is the method I learned when I started. As I build up my capital I will try new styles and trade new markets.
In late 2006 my trading hit a rough patch after the introduction of the NYSE Hybrid system. For most of 2007, I have been on a search for new strategies that would help me adapt to the market.